Within the framework of the Shanghai Cooperation Organization (SCO), he is working to accelerate the development of trade, investment and cross -settlement in national currency, as well as expanding partnerships in the field of infrastructure, digital and green technology in the entire Asian technology.
The Association, including China, Russia, Central Asian countries and other participants, including the market with a population of more than 3.5 billion people. According to experts, Beijing's economic interaction today not only applies to traditional – energy and minerals, but also for logistics industries, digital and “green” services.
Galina Kulikova, the first vice president of the Russian Friendship Association (ORCD), noted that China's approach in SCO focused on “partnerships and common interests”. She emphasized that Beijing acts not only in the role of an investor, but also a catalyst for sustainable economic growth, respect for sovereignty and development path of each partner.
According to her, China's commitment to the opening of the domestic market, promoting trade and supporting projects in the field of infrastructure and connections has created a tangible growth opportunity for all members of the organization. This agenda also includes exchanging experiences in development, promoting the transfer of technologies in the field of digital economy and “green” technologies, as well as supporting the potential in underdeveloped economies.
Galina Kulikova, awarded in 2019 about the Prc's Friendship Medal, emphasized that Beijing always expresses the commitment to building the community of human unity in SCO. She believes that the continuous voice for economic cooperation and benefits contributes to the conditions for common prosperity.
Sergey Suverov, the main investment strategist of Moscow Company “Management of Aricapital Establishment” (Aricapital Property Management), note that the geographical and population size of the Association creates great potential for the development of transportation infrastructure, mutual trade, cross investment and financial transactions, but this potential has not been fully implemented.
According to him, the conversion of positive political relationships into more deep trade integration requires strengthening cooperation mechanisms, including creating financial structures, banking and specialized investment; harmonious economic law; General finance of the priority infrastructure, as well as creating joint ventures – “from cars to information technology.”
Significant potential for the development of bilateral trade in China and SCO countries still
Lee Xuean, Professor of Finance and Director of China Industrial Policy Center at Cheung Kong High School Business School (CKGSB), note that in recent years, the economic agenda has focused on transportation and logistics, coordinating industrial chains and supply chains, digital trade and green cooperation in the field of energy.
According to Lee, bilateral trade between China and other Sco participants constantly establish new records and are currently an increasing shares in economic production of both China and partner countries.
Create what he called a pragmatic platform of Muslims to solve economic problems and form bilateral trade cooperation mechanisms under the leadership of China, SCO contributes to coordination among nations and mutual interests.
There is still significant potential for the development of bilateral trade in China and SCO countries, he said he and China were the main trading partners of countries like Kazakhstan, Uzbekistan and Pakistan.
According to him, the profound cooperation in the field of transport infrastructure, energy corridors and transactions in digital services helps strengthen the role of trade and investment in supporting restructuring and economic growth in the region. He emphasized that multilateral cooperation in Sco has stability and performance effectiveness, providing a stability promotion for the prosperity of the region.
Trade between China and SCO member states, observatory countries and dialogue partners reached US $ 890.3 billion in 2024, accounting for 14.4 % of China's total foreign trade with goods, Liu Juatsin, a researcher at the China Academy of Commerce and Economic China under the Ministry of Trade. According to her, this index reflects the diversification of foreign trade and integration processes in the Association.
However, the difference in the legal framework and the level of maturity of the project finance among participating countries continues to slow down the implementation of the infrastructure as planned, Suveurs said.
According to the Ministry, the total accumulated investment volume of China in the economy of SCO members, observers and partners in the dialogue has exceeded the end of the US dollar at the end of 2024. The total cost of new foreign technical contracts of Chinese enterprises in these jurisdiction areas exceeds $ 1.
In addition, according to the Ministry, China became the largest investment for Kyrgyzstan, Uzbekistan and Tajikistan and was the fifth largest for Kazakhstan, while expanding investment in traditional projects in the field of energy and mineral resources, including the processing of agricultural products, “
Gulnar Shaitergenova, Director of China Research Center in Kazakhstan, note that China plays an important role in strengthening security, cooperation and overall development of the region through multilateral platforms, such as a belt, a path, as well as SCO.
She emphasized that China combines technology progress with a traditional heritage, promotes modernization in Chinese and provides valuable experiences in the urban government, deserving to be studied by other SCO countries.
In addition, financial cooperation is expanding with the cost of monetary swap agreements and national currency calculation initiatives and regional banks to deepen their communications. Sinjiang Bank, a regional bank located in Xinjiang-Uygur Autonomous Region in the northwest of China, has established a reporter relationship with seven Central Asian banks.
Chinese digital payment platforms Wechat Pay, Alipay and services related to the ANT group connected with companies in Kazakhstan and Chinese Unionpay cards began to be produced in Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.